Registration No.

_____________

DECEMBER 2018 EXAMINATION

GM 02 / eGM 02

ECONOMIC & SOCIAL ENVIRONMENT

Time: Three Hours Maximum Marks: 100

Note:

1. The paper is divided into three sections: SECTION-A, SECTION-B and SECTION-C.
2. There are seven questions in SECTION-A, attempt ANY FOUR.
3. SECTION-B has five questions, attempt ANY THREE.
4. All the questions of SECTION-C (Case Study) are compulsory.

SECTION-A (10 Marks each)

1. Discuss the various macro environmental factors, which have an impact on business.

2. Describe the various provisions of Consumer Protection Act.

3. What is industrial sickness? Describe the various causes of industrial sickness.

4. Describe the various sources of Revenue of the Government.

5. Discuss how organizations are using Social responsibility strategically.

6. What is monetary policy? In the current market scenario, what are the factors that influence
the supply of money in country?

7. What are the various advantages and disadvantages of Regional Trade Agreements to a nation?

SECTION-B (15 Marks each)

8. Describe the scope of FEMA and discuss the difference between the FERA and FEMA.

9. Discuss the contribution of Public Sector Units (PSUs) to Indian Economy. What are the reasons
for some of the PSUs not having very satisfactory performance?

10. Define Small Scale Industries and explain its objectives. What are the various programs and
policies which government has introduced to promote SSI?

GM 02 / eGM 02 / DECEMBER 2018 Page 1/3

11. “Globalization has been a powerful driving force which has brought convergence in the tastes
and preferences of the consumers around the world.” Critically evaluate the statement, identify
the major hindrances in the process of making the economy global.

12. Describe with suitable example, the various cultural values and how they influence the
individual as a customer and consumer.

SECTION-C (15 Marks)

Case Study (Compulsory)

Eight ways how AI can change their Business in 2018

(Reference: https://usblogs.pwc.com/emerging-technology/8-ways-ai-will-change-work/)

We’ve all seen the headlines time and again: technologies like artificial intelligence (AI), blockchain, and
the internet of things (IoT) will change our lives and work over the next decade. Such long-term
forecasts are important, but business leaders must make decisions right now. They don’t want sci-fi
visions. They want to know how and when AI will affect their organizations—and what they should do
about it today.

PwC just published some predictions about immediate trends to watch, based on insights not only from
the technologists in our AI Accelerator and Emerging Tech Labs, but also from our finance, risk,
operations, and cyber leaders and teams. And plural “teams” is intentional—not a typo. To develop and
execute a near-term AI strategy, organizations must form cross-functional teams. No single function can
succeed in isolation.

These are the trends that are beginning to emerge but haven’t caught much attention yet:

1. AI will impact employers before employees. AI probably won’t devastate the job market in the
long run—and it certainly won’t do so in 2018. But AI works best when it brings together data
and teams from different disciplines. An AI solution to help hospital staff decide which medical
procedures to authorize, for example, will need input not just from AI and medical specialists,
but also from legal, human resources, cyber security, and compliance teams. The average
enterprise, which has data and people in silos, isn’t ready for what AI is about to demand of it.
2. AI will simplify work. AI is ready right now to automate complex processes, identify trends to
create business value, and provide forward-looking intelligence. For example, all those hours
that finance departments spend wading through data from ERP, payment processing, business
intelligence, and other systems? AI will take care of that. The result will be less busywork for
humans and better strategic decisions: employees working more effectively than before.
3. AI will help answer data questions. Many investments in data integration and technology have
failed to answer the big question: Where’s the return on investment? But AI is now delivering
business cases for data initiatives. New data tools are making these initiatives more affordable.
For example, in many cases, a human no longer needs to spend endless hours indexing and
classifying data from texts. Natural language processing can mine data from documents.
4. AI techies are not the only people in the AI talent race. There’s a bidding war for computer
scientists, and salaries for AI specialists sometimes rise into the millions. But as AI leaves the
computer lab and enters everyday work processes, subject matter specialists who have certain
basic AI skills will also be crucial for enterprise success.

GM 02 / eGM 02 / DECEMBER 2018 Page 2/3

5. AI will make cyberattacks (and cyberdefense) more powerful.  Machine intelligence
coordinating global cyberattacks, advanced data analytics to customize attacks—it’s all coming.
Organizations can’t bring a knife to a gunfight. They’ll need to fight AI with AI. Sample use cases
include distributed denial of service (DDOS) pattern recognition, prioritization of log alerts for
escalation and investigation, and risk-based authentication.
6. AI’s black box and how to open it becomes a priority. AI spinning out of control isn’t a danger
for 2018. But AI that acts inexplicably—and therefore makes leaders and consumers wary of
using it—is a real risk. Pressure will grow on enterprise users to open up “black boxes,” so
customers, investors, regulators, and other stakeholders can “see inside” AI to know how it’s
making decisions. New techniques can make AI explainable, transparent, or provable.
7. AI will cause nations to spar—and China will advance. AI is a gigantic opportunity, and many
governments are working to get their countries a big piece of the pie. Tax reform and
deregulation may give AI a boost in the United States, but China stands apart. It’s prioritizing
AI for its economic future.
8. AI—and its control and monitoring—goes beyond tech companies. Invasion of privacy,
algorithmic bias, environmental damage, threats to brands and the bottom line—the fears
related to AI are numerous. But a global consensus is emerging around principles for responsible
AI. Organizations’ stakeholders will make them pay attention. Self-regulatory organizations—
which bring users together around certain principles and then oversee and regulate compliance,
levy fines as needed, and refer violations to regulators—are one likely path.

AI isn’t something for the far future. And it’s most certainly not just something for tech companies or
tech functions. Bring together your entire leadership team to discuss AI. Whether for data initiatives,
upskilling workforces, cybersecurity—even tax reform—AI must be on your agenda this year. It’s time to
start learning, testing, collaborating, and incorporating AI across your business.

13. Case Question: How would dynamic technological environment in terms of coming up of
Artificial Intelligence, Block chain affect the organization. What steps should be taken by the
organization today?

GM 02 / eGM 02 / DECEMBER 2018 Page 3/3